Cable dips to 1.2216 (two-day low) after UK May CPI matches 9.1% YY forecast

See: nL8N2Y917G. 1.2227 was pre-UK CPI data low, courtesy of risk aversion

European/U.S. stock futures negative (GBP is risk-sensitive) nL1N2Y9088

UK May core CPI 5.9% vs 6.0% f/c. Boost for opponents of 50 bps Aug BoE hike

1.2200 and 1.2174 (last Friday's low) are GBP/USD support points

Upside down world of 'reverse currency wars' is real nL8N2Y74K0